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Turnkey Asset Management Program (TAMP)


The Turnkey Asset Management Program (TAMP) refers to a service that provides financial advisors with a comprehensive set of services including back office support, investment management, account setup, account maintenance, and billing. This system allows financial advisors to outsource the administrative and management aspects of their practice so they can focus more on providing advice and building relationships with clients. TAMPs typically offer a range of investment strategies, performance reporting options, and other services.


The phonetic pronunciation of “Turnkey Asset Management Program (TAMP)” would be: Turnkey – /’tə:rn,ki:/Asset – /ˈæsɛt/Management – /ˈmænɪdʒmənt/Program – /ˈproʊˌgræm/TAMP – /tæmp/

Key Takeaways

<ol><li>TAMP Streamlines Investment Process: Turnkey Asset Management Program provides a comprehensive, centralized system that manages all aspects of an investment process, from back-office administrative responsibilities to front-office decision-making. They allow independent advisors to focus more on client engagement and less on the time-consuming task of managing portfolios.</li> <li>Different Services Offered: TAMP offers a wide range of services, including investment research, portfolio modeling, rebalancing, trade execution, performance reporting, and data aggregation. Many TAMPs also offer additional services such as financial planning, CRM, billing, and regulatory compliance support.</li> <li>Convenient for Advisors: TAMP is particularly beneficial for independent financial advisors as it removes the burden of daily operations and allows them to focus more on offering advice and nurturing client relationships. The affordability and skill diversification with multi-manager platforms help businesses scale better.</li></ol>


A Turnkey Asset Management Program (TAMP) is a critical tool in the finance world because it provides financial advisors with a comprehensive suite of services that greatly streamline their operations. It combines various elements including back-office functions, portfolio management, reporting, and even client communication under one platform. This consolidation not only boosts the operational efficiency but also ensures stringent risk management and compliance adherence. In addition, TAMPs offer a diverse range of investment strategies and vehicles which can be tailored to fit unique client needs. By delegating some operational burdens to a TAMP, advisors can focus more on developing and maintaining client relationships and less on administrative tasks, thereby improving their overall service delivery and their client’s satisfaction.


The primary purpose of a Turnkey Asset Management Program (TAMP) is to provide investment professionals with a comprehensive suite of services, tools, and capabilities that allow them to focus more on their client relationships and less on the day-to-day management of their clients’ investment portfolios. By taking advantage of a TAMP, financial advisors can offload a substantial portion of the operational, administrative, and management tasks related to overseeing an investment portfolio, such as research, portfolio construction, trading, rebalancing, and reporting. The idea is for the advisor to provide more valuable, high-level strategic advice to their clients, while the TAMP handles the more routine, yet still critical, aspects of investment management.The ultimate goal of utilizing a TAMP is to improve efficiency and effectiveness in delivering investment management services. For instance, TAMPs often improve scalability for advisors by handling many of the time-consuming aspects of managing multiple client portfolios. This allows advisors to take on more clients or provide more comprehensive services to existing clients without needing to increase their operational overhead significantly. Additionally, TAMPs often provide access to a wide range of investment options and strategies that an individual advisor may not have the resources or expertise to manage effectively on their own. All of this can potentially lead to better client outcomes and more profitable and sustainable advisory practices.


1. Envestnet: Envestnet is a leading example of a TAMP provider in the real world. They offer comprehensive wealth management software and services that include portfolio management, reporting, and client portal. A financial advisor can outsource investment management to Envestnet, allowing them to focus more on client servicing and relationship building.2. SEI Investments: SEI Investments Company provides investment processing, investment management, and investment operations solutions. It designs and develops outsourced investment management programs for institutions, private banks, investment advisors, etc.3. Morningstar Managed Portfolios: This is an example of a TAMP specifically focused on smaller independent financial advisors. By outsourcing client investment management to Morningstar, an advisor can free up time to focus on comprehensive financial planning and client relationships. Morningstar offers a diverse range of strategies, allowing advisors to cater to different client needs.

Frequently Asked Questions(FAQ)

What is a Turnkey Asset Management Program (TAMP)?

A Turnkey Asset Management Program (TAMP) is a centralized platform used by financial advisors to oversee their client’s investment accounts. TAMPs provide all-inclusive services such as investment research, portfolio management, administrative duties, and technology systems.

Who uses TAMPs?

TAMPs are primarily used by financial advisors, portfolio managers, and independent wealth managers who wish to streamline their operations and delegate some administrative and daily tasks to focus more on client relationships and business development.

How do TAMPs benefit advisors?

TAMPs provide a comprehensive suite of services and technology allowing advisors to outsource the time-consuming duties related to asset management. This gives the advisor more time to focus on key services such as financial planning and customer relations.

What services are provided by a TAMP?

TAMPs offer a variety of services including risk assessment, back-office administration, billing, reporting, portfolio management, and client communication tools. Some also provide advanced analytics, financial planning tools, and access to a wide range of investment products.

How are TAMPs paid?

TAMPs are typically paid through a fee-based model. They charge a percentage of the assets being managed through the program. The fees might also vary depending on the level of service provided.

Are TAMPs suitable for all advisors?

TAMPs are more beneficial for advisors who have a large client base and those who wish to devote more time to improving client relationships and expanding their businesses. Advisors who enjoy managing all aspects of their client’s investments might not find TAMPs as advantageous.

How do I choose a suitable TAMP for my business?

It’s crucial to evaluate a TAMP based on its offerings, technology, investment methodology, support, costs, and reputation in the industry. You should choose a TAMP that aligns with your business model, values, and long-term goals.

Can I customize the investment strategies on a TAMP?

Many TAMPs allow for customization and flexibility in investment strategies to ensure the unique needs of different clients are met. Always check with your chosen provider to understand their approach to portfolio management.

Does employing a TAMP replace the need for a financial advisor?

No, a TAMP is a tool that aids financial advisors in their tasks. Despite outsourcing certain tasks to a TAMP, the advisor still plays a crucial role in developing financial plans and establishing a strong advisor-client relationship.

: Is it time-consuming to implement a TAMP in my current practice?

: Transitioning to a TAMP can require some effort initially for integration and learning. However, most providers offer significant ongoing support to make the process as smooth and efficient as possible.

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